Message #3 From:
NewsBot Date: December 1, 2005 04:15:00 AM
UDHI News Union Dental Featured in Managed Dental Care Publication
CORAL SPRINGS, Fla.--(BUSINESS WIRE)--Dec. 1, 2005--Union Dental Holdings, Inc. (OTCBB:UDHI) is pleased to announce that it has been featured in the December 1st issue of Managed Dental Care. The article is significant for Union Dental as Managed Dental Care is a monthly publication specializing on business news and analysis matters affecting every dental payer, provider, supplier, and dental practice management firm (DPM) in the country. As such, coverage in an industry publication of this prominence reinforces the value of the Union Dental business model.
Article Highlights
Within the featured article entitled "Union Dental Adds Locals as it Pursues National CWA Deal," Joseph V. Pignatiello, Director of Marketing of Union Dental, provides a detailed description of the Company's latest accomplishments. Mr. Pignatiello states that Union Dental is pursuing a national contract with the Communications Workers of America (CWA) and is working with union representatives in other industries in an effort to expand the Company's dental networks. Mr. Pignatiello also indicated that Union Dental is in negotiations with other provider groups that are expected to ultimately add approximately 200 dentists to its current networks established throughout the US.
Mr. Pignatiello indicated that the most significant opportunity for the Company was outlined in a recent presentation by Dr. George D. Green, CEO and President of Union Dental, at the CWA national headquarters in Washington, D.C. Mr. Pignatiello explained that, "CWA executives requested that Union Dental make a presentation to them, outlining a national plan for CWA and we responded. Our presentation is now in front of Larry Cohens, CWA President." Mr. Pignatiello summarizes the CWA presentation by stating that, "We are very excited about the potential of this opportunity and the timing of a decision is not expected to be delayed."
Additional negotiations with other labor groups are also taking place. Mr. Pignatiello stated, "I have been contacted by several unions that want to use our dental network as an organizing tool." Mr. Pignatiello says, "Those unions represent telephone companies, transportation workers and other people who are not currently union members." Mr. Pignatiello continued to say, "We are working with a group of dentists that would add 111 offices to our network in Florida, Georgia and Tennessee. It will also add six offices in Virginia, where we will set up a network and then take it to the local CWA in the cities where we have those offices."
Union Dental currently enjoys a niche market, focusing only on building dental networks where an agreement already exists with the local union chapters. Under such an agreement, unions will not endorse any other dentist or dental network. Therefore, Union Dental, in essence, eliminates all competition. Union Dental enjoys a competition free environment having already amassed a number of local unions to endorse its service. The latest local union chapters secured by Union Dental include: CWA Local 3702, Anderson, SC, and CWA Local 3719, Williston, SC, bringing the total number of union agreements secured within the last two months to six.
Dr. George D. Green summarized by stating, "We plan to continue adding CWA chapters to our growing list of dental networks." Dr. Green is giving seminars in Columbia, SC, and Charlotte, NC, this month, addressing dentists who may want to sign up for the network and dentists who have recently done so in those areas. Dr. Green will also speak to the unions in those cities, addressing the issue of benefits for CWA members.
Union Dental now boasts more than 450 dentists. The Company is targeting a network of 650 dentists by the end of 2006. However, Mr. Pignatiello confirmed that if a national CWA contract is secured, the Company would require approximately 5,000 dentists and 1,000 specialists to service those members.
This press release is available on the company's official online Investor Relations HUB at http://www.agoracom.com/IR/UnionDental for all investor questions, answers and discussion within a monitored environment. Alternatively, investors are able to e-mail all questions and correspondence to UDHI@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.
About Union Dental Holdings, Inc., Direct Dental Services, Inc. and Union Dental Corp.
Direct Dental Services and Union Dental Corp. are wholly owned subsidiaries and provide dentists with "areas of exclusivity" to participate with various unions including the Communications Workers of America ("CWA") and International Brotherhood of Electrical Workers (IBEW) Dental Networks. Union Dental Corp. receives annual management fees from the dentists in exchange for practicing in these "areas of exclusivity" where CWA and IBEW members use the dentists' services. DDS/UDC has contracts with CWA & IBEW Local Unions to provide a dental network utilizing the members existing insurance policy. The dentists in the Dental Network provide services in the areas for union members, as well as existing patients in exchange for an annual management fee. The network of dentists accepts payment from union insurance plans for services rendered as payment in full, with certain procedures requiring a small out-of-pocket co-payment from the union member patient. In addition, Union Dental Corp. acquired the assets of an existing dental practice (excluding the patient list) and successfully integrated those assets into its existing practice which has been servicing patients for 17 years in Coral Springs, Florida. UDC and DDS are wholly owned subsidiaries of Union Dental Holdings, Inc.
This release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended which represent the company's expectations or beliefs concerning future events of the company's financial performance. These forward-looking statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. The words "may," "could," "should," "believe," "anticipate," "estimate," "expect," "intend," "plan" and similar words are intended to identify forward-looking statements. Results actually achieved may differ materially from expected results included in these statements. The company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. Furthermore, this company cautions that the risk factors listed in this paragraph are not exhaustive.
